Burning All Ownership Privileges

Each asset has only one owner. The owner can issue more tokens unless locked but change description even when locked.

Just wonder if anyone has ever “burned” their ownership? It can be done by transferring ownership to an address with no private key. The reason for doing this would be to guarantee that the description never will change.

I haven’t tried, but sending unnecessary (“spam”) coins to (say) the original CP burn address is something I’ve recommended to those who complained about having coins they don’t want in their CW.

I haven’t thought about the idea of transferring asset ownership to such an address. Dividends couldn’t be paid so it wouldn’t work well for such assets, but it would certainly achieve the “locking” effect. One risk with the inability to change asset description would be that you couldn’t change its description. Say you need to change the asset Web site, or by accident lose control of the domain where the JSON file is hosted, or lose a lawsuit which forces you to change your asset description… I suppose it would be good in some cases, but bad in others.

What are some scenarios in which you’d want to lock the description?

Its nice that the option is there for unseen uses, but I would not recommend this to many asset holders as you are right the ability to change the description is an important one in case things change. As long as the asset is locked, then there should not really be that many issues.

No, not really. I was just curious to see if someone actually had done it, and if so; why.